Is Momentus, Inc. overvalued or undervalued?

As of 14 August 2023, Momentus, Inc. has moved from a grade of "does not qualify" to "risky." The company is currently considered overvalued, given its negative financial metrics. Key ratios include a Price to Book Value of -1.57, an EV to EBIT of -0.38, and an EV to EBITDA of -0.41, all indicating significant financial distress and a lack of profitability.
In comparison to its peers, Momentus, Inc. shows a stark contrast with Intuitive Machines, Inc., which has a P/E ratio of -22.45 and an EV to EBITDA of -35.56, both also indicating risk. Other peers such as Byrna Technologies, Inc. and Senstar Technologies Ltd. have P/E ratios of 47.65 and 76.79, respectively, highlighting the disparity in valuation and financial health within the industry. Additionally, Momentus has underperformed significantly against the S&P 500, with a year-to-date return of -83.86% compared to the S&P's 2.44%.